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    6th Ghana CEO Summit to focus on digital leadership for the digital economy

    We want Ghanaians to own 30% of MTN Ghana shares by end of 2022 – GROUP CEO

    Ghana’s 2022 economic outlook to remain positive; GDP projected to grow by 5.3% – AfDB report

    African governments tasked to look within the continent in their bid for transformation

    COCOBOD closes purchases for 2021/2022 main crop cocoa season

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

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    6th Ghana CEO Summit to focus on digital leadership for the digital economy

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Value of MoMo transactions decrease by 3% between March and April 2022

    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

    Monetary Policy Rate increased again by 200 basis points; now at 19%

    Government partners private companies to mine abandoned iron ore in Oti Region

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    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

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    We’ll avert any looming food crisis with effective planning – AfDB Boss

    Standard of cars assembled in Ghana will not be compromised – GSA assures

    GUTA urges gov’t to get other countries to open their borders to facilitate trade

    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

    Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank

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Cedi will perform better in 2015-Ecobank boss

bycitibusinessnews
January 7, 2015
in Banking And Finance, Business, Top Stories
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The cedi’s fortune for 2015 will be much better than 2014.

According to Ecobank Transnational Incorporated (ETI) ‘s boss Albert Essien the cedi will perform much better than it did last year and will not experience the losing streak it did in 2014.

‘I don’t think that it will slide as fast and as much as it did in 2014, i think lessons has been learnt’ He said.

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The cedi recorded one of its worst performances in 2014 depreciating by about 30 percent.

Its poor performance commenced in the first quarter of that year and through to the third quarter of 2014.

Proceeds from the cocoa loan syndicate as well as the issuance of the Eurobond kept the cedi afloat in the last quarter of 2014.

The central bank in a bid to save the cedi from further decline, in February 2014, introduced new and revised rules.

The move according to some industry players did not yield the results need.

An assertion which the bank of Ghana has downplayed.

According to Mr. Essien there is the need to take tough decisions to save the cedi from further fall.

‘We cannot continue to have the deficit that we are having, am glad that the finance ministry and government is doing something about it, the central bank is working with the finance ministry on that, but it needs some real ruthless execution to make sure we hold on to the cedi’s slide’. He said.

 

By: Vivian Kai Mensah/citifmonline.com/Ghana

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